Buffalo Grove recently retained its AAA long-term bond rating, the highest rating available from financial services firm Moody's Investor Services, although the group assigned a negative outlook as uncertainty looms over state finances.

Moody's assigned the negative outlook to the village's AAA rating because of above average pension liabilities locally and the fact that village officials are dependent on economically sensitive revenue from state lawmakers in Springfield, according to a Buffalo Grove news release.

Even though Buffalo Grove makes pension contributions above recommended amounts, the village's pension liabilities continue to grow, village officials said in the release.

Revenue could become an issue if state lawmakers decide to cut state funds distributed to the village, the release stated.

The temporary spending plan that state lawmakers approved last year expired with the new year, rekindling the budget impasse in Springfield and debate over state finances between Republican and Democratic leaders in Springfield.

Despite future unknowns, Moody's reconfirmed the village's AAA bond rating because of the village's strong reserve fund and ability to balance budgets, as well as a low debt burden, village officials said in the release.

Moody's also noted the village's location and affluent demographics as reasons for the reconfirmation.

"This rating is the result of prudent financial and budget management, and a conservative approach to managing debt," Village President Beverly Sussman said in the release.

Throughout 2017, Buffalo Grove officials will oversee a study to try and bolster business activity along Lake Cook Road, a prominent corridor within the village, but residents may not see the results of it until years later.

Working with consultants from an international architectural firm, village...

Throughout 2017, Buffalo Grove officials will oversee a study to try and bolster business activity along Lake Cook Road, a prominent corridor within the village, but residents may not see the results of it until years later.

Working with consultants from an international architectural firm, village...